Cardano (ADA) surged nearly 8% after breaking above a descending resistance trendline that had capped its price since February. The cryptocurrency traded near $0.264, recovering from a weekly low of $0.245. This rebound was supported by renewed spot demand and improving sentiment across the crypto market, with Bitcoin maintaining levels above $80,000. Data from CoinGlass highlighted dense liquidation clusters between $0.28 and $0.30, suggesting potential for increased volatility if bullish momentum continues. Santiment data showed large ADA holders accumulating during consolidation, bolstering market confidence. Technical indicators, including the Relative Strength Index and MACD, signaled strengthening buying momentum. Despite the positive outlook, ADA faces resistance at $0.27 and $0.30. A sustained breakout above these levels could lead to a stronger rally. However, failure to maintain momentum above the trendline may see ADA retreat to support levels between $0.24 and $0.25.
Cardano Surges 8% as Whale Accumulation Boosts Market Confidence
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